Mahindra is planning to launch seven SUVs and two EVs by 2026 and has allocated Rs. 6,000 crores for new ICE SUVs and Rs. 3,000 crore for EVs.
Mahindra’s turnaround plan is in action and it has started showing positive results for the automaker. It registered a net profit of ₹ 48.44 crore on standalone basis in Q4 FY2021, recovering from a heavy loss of ₹ 2,502.43 crore incurred in the corresponding quarter last year. So moving forward from here the company is taking another step towards revamping its product range. Mahindra has earmarked a capital expenditure (CAPEX) of ₹ 9,000 crore for its auto business as it plans to launch nine new models by the end of 2026.
The first two of these nine SUVs are the Mahindra XUV700 and new-generation Scorpio are set to go on sale this year itself. Then, the company has also reaffirmed that the Mahindra Thar 5-door is on the cards as well and will be launched between 2023 and 2026 along with the new-generation Bolero. Next up, we have the V201 which is likely to be a new MPV hitting the market between 2024 and 2026 along with the new-generation XUV300 subcompact SUV and the and the XUV900 coupe SUV (Codename: W620). And finally, the company will also bring an all-new EV platform- Born EV, which will spawn two brand new electric vehicles (EVs) in 2025-26. So to give you a break-up, Mahindra has allocated ₹ 6,000 crores for new SUVs with combustion engines and ₹ 3,000 crore for EVs.
Now quite obviously, the investment amount will be used for development, sales, marketing and promotion of these vehicles, but Mahindra will is also working to bring in an electric iteration for its entire product line-up. So starting from the Mahindra XUV700, all-new models will also have an electrified variant in the line-up. Having said that, EV development for the entire range is still some time away and we expect them to see only later in the second half of this decade.